Armenian deputy finance minister: No sharp exchange rate to happen any
more

2009-03-09 17:00:00

ArmInfo. No sharp exchange rate will happen any more, Armenian Deputy
Finance Minister, Vardan Aramyan, told journalists today when
commenting on the decision to return to the floating rate of the
Armenian dram. He also added stabilizing of the situation depends on
how the population will act.

‘As soon as tense behavior of the population disappeared the dram rate
stabilized’, – deputy minister said and added that along with falling
of tension equity of the currency buy/sale has also fallen.
It was about 20 drams over the first 2-3 days after passing to the
floating exchange rate, but at present it is 5-6 drams. ‘The risk of
the currency speculations will grow in case of the negative
expectations and feeling of instability. Warning about cutting of the
dram rate could play such a role. For this reason we did not do that’,
– deputy minister explained.